NTMA seeks financial advisers to assess loans

THE National Treasury Management Agency (NTMA) is seeking tenders from financial advisers to help with the transfer of bank loans to the National Asset Management Agency (Nama).

The NTMA confirmed last week it expects to have the first €19bn of the €77bn of bad and suspect loans transferred across from the banks in the first quarter of 2010. It expects that process to be completed by the third quarter of the year.

The Government has agreed to pay €54bn to the banks for the bad loans, a discount 30%.